EDX Markets (EDXM), a new digital markets exchange backed by financial giants Charles Schwab, Fidelity Digital Assets, and Citadel Securities, officially launched with trading in four crypto assets.
The EDX exchange allows trading of Bitcoin, Ether, Litecoin, and Bitcoin Cash. All four chosen crypto assets were ones not named “crypto asset securities” by the U.S. Securities and Exchange Commission in its lawsuits against Binance and Coinbase earlier this month.
EDX said it strives to “meet the needs of the world’s largest and most sophisticated financial institutions,” many of which remain crypto curious but skeptical of centralized crypto services providers, if not because of the failures of many in 2022, then because of the regulatory uncertainty the remaining players now find themselves in.
EDXM has made a number of senior leadership hires and will continue to expand its executive team in the coming months. Jamil Nazarali, formerly global head of business development at Citadel Securities, serves as the CEO of EDXM; Tony Acuña-Rohter, who previously served as chief technology officer (CTO) at ErisX, through its acquisition by Cboe Global Markets, has joined as CTO; and David Forman, formerly chief legal officer at Fidelity Brokerage Services and general counsel for Fidelity Digital Assets℠, is general counsel. They will be joined by additional hires from across the cryptocurrency and traditional financial services sectors.
“It is a privilege to lead EDXM as we build this exciting new trading ecosystem, and I am grateful for the participation, support and guidance of our consortium members,” Nazarali said in a press release. “We look forward to welcoming additional participants to the exchange, which will drive ongoing trading in this important asset class while creating a virtuous cycle of continually enhanced liquidity and efficiency supported by MEMX’s cutting-edge technology.”